An Estimated Model of the Small Open Czech Economy with a Non-tradable Sector

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F09%3A00038078" target="_blank" >RIV/00216224:14560/09:00038078 - isvavai.cz</a>

Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

An Estimated Model of the Small Open Czech Economy with a Non-tradable Sector

Popis výsledku v původním jazyce

The article presents a dynamic stochastic general equilibrium (DSGE) model of a small open economy. It is based on the New Open Economy Macroeconomics (NOEM) concept and derived from microeconomic foundations. Behavior of representative households and firms contains rigidities. Structure of goods is composed of tradables and non-tradables. Monetary policy implementation is represented by a generalized Taylor rule within the inflation targeting regime. Foreign sector is exogenous, however, it is described by structural equations for a closed economy model structure. A Bayesian technique using prior information is employed for an estimation of parameters of a solved model. The estimated model and impulse response functions seem to present a suitable approximation of behavior for the small open Czech economy with inflation targeting regime.

Název v anglickém jazyce

An Estimated Model of the Small Open Czech Economy with a Non-tradable Sector

Popis výsledku anglicky

The article presents a dynamic stochastic general equilibrium (DSGE) model of a small open economy. It is based on the New Open Economy Macroeconomics (NOEM) concept and derived from microeconomic foundations. Behavior of representative households and firms contains rigidities. Structure of goods is composed of tradables and non-tradables. Monetary policy implementation is represented by a generalized Taylor rule within the inflation targeting regime. Foreign sector is exogenous, however, it is described by structural equations for a closed economy model structure. A Bayesian technique using prior information is employed for an estimation of parameters of a solved model. The estimated model and impulse response functions seem to present a suitable approximation of behavior for the small open Czech economy with inflation targeting regime.

Druh

J_x - Nezařazeno - Článek v odborném periodiku (Jimp, Jsc a Jost)

CEP obor

AH - Ekonomie

OECD FORD obor

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Projekt

<a href="/cs/project/1M0524" target="_blank" >1M0524: Centrum výzkumu konkurenční schopnosti české ekonomiky</a><br>

Návaznosti

P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)<br>S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2009

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

Bulletin of the Czech Econometric Society

ISSN

1212-074X

e-ISSN

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Svazek periodika

16

Číslo periodika v rámci svazku

26

Stát vydavatele periodika

CZ - Česká republika

Počet stran výsledku

25

Strana od-do

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Kód UT WoS článku

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EID výsledku v databázi Scopus

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